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CSPAN
Dec 1, 2012 12:30pm EST
the problems facing the u.s. economy for about an hour and 45 minutes. next on book tv. [applause] >> thanks to the fashion institute of technology. unquestionably the most in the world today. [applause] in addition to being nobel laureates i would have to say from the vantage point for the economic thinking those would be my finalists. [applause] as you know, we've written a book that pertains to the challenges and circumstance the price of an equality. on behalf of them i thank you for your patronage and. let's start with paul. paul, you talked about and this depression now. a lot of people don't believe we could end this now. but agency deutsch human beings have to take on this challenge? something that is recognizably the same kind of animal. we victimize it is the same technology still there and skills are still there. look back to the 1930's and there are a lot of people making the argument that there were no easy answers and you could quickly get out of this [inaudible] and the 1939 and these are fundamental problems and if we want to make progress to cut unemployment benefits and thi
CSPAN
Dec 4, 2012 5:00pm EST
balanced deficit reduction package that will do enormous good to our economy. and the kind of package that i should not leave out, that includes targeted investments so our economy continues to grow and create jobs. it would, as i said on a number of occasions, deficit reduction in an of itself is not a goal, it should be part of an economic plan is that is focused on economic growth and job creation. the president is very focus odden that. >> just a second ago, you referred to, when talking about the debt ceiling, taking it off the table, to be part of the deal. you referred to the economy being held hostage. you're aware that president obama voted against -- >> we addressed that. there was no threat of default at the time. what happened in 2011, as we all know because we all lived it, most of us in this room, was the threat of default, a willingness expressed by many to see the american economy under default and with all the consequent impacts on the global economy and on the american middle class. . in order to do that and was enormously damaging to consumer confidence.
CSPAN
Nov 27, 2012 8:00pm EST
've spent a good deal of your career working on, mr. hall, has been the improvement of the american economy. and tonight i'd like to join a couple of my colleagues on the democratic side to talk about the economy and specifically to talk about jobs and the things that we can do here in the a winning days of this congress -- wanning days of this congress to create some job opportunities. we've got some very heavy lifting here in congress in the next month and a half. everybody wants to talk about the fiscal cliff, some talk about austerity, bomb, others talk about what needs to be done to lift the debt limit. and all of these issues are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican
FOX News
Nov 28, 2012 7:00pm PST
. >> by growing the economy. just a couple numbers. already in this meager economic recovery, we've increased revenue to the federal government by $344 billion. if we just return to a normal economy, like we had in 2007, under president bush, where proven was 18.5% of our economy, that would raise another $400 billion per year. the president's proposal right now, the highest estimated is $75 billion, a tenth of that. economic growth is 10 finals more effective at raising revenue. the problem with punishing success, the problem with the president's proposal, it will put that economic growth at risk. you know, i think the best question really is, what is the president's plan? show us your plan. this is about returning confidence to the economy. >> greta: a plan to rev up the economy or a plan for spending cuts? >> a plan for reducing the deficit which actually would return certainty to the economy, restore confidence, which would help economic growth. punishing success will not do that. temporary tax increases don't do that as well. >> greta: it's interesting, almost seems like a game of chicke
CNBC
Nov 29, 2012 7:00pm EST
be done without destroying the economy, but you are right. they have to do some serious spending cutting. hell, 20% of gdp is too high. 1% is where we ought to be. i got to get out of here. the producers are in my ears. many thanks to you all. we appreciate it very much. >>> now the next question is, will reducing the tax detux for charitable giving really hurt america's charities? you may be surprised about what i'm going to say about this, and the facts back me up. get ready for a debate, because free market capitalism is the best path to prosperity. people don't make charities just because of tax considerations. i'm larry kudlow. they have a heart, and that heart is what driving them to be beneficial. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewards from dinner deals to music downloads for purchas
FOX Business
Dec 3, 2012 3:00pm EST
hurting our economy and creating jobs. today, the white house has demanded an offer from republicans. they now have one. back to you. llri: rich edson, and he thinks. the market is taking a breather today. dupont and 3m are the biggest draggers on the dow. early stocks rising out of the gate out of some good news out of china over the night. hitting a seven month high, but then the u.s. isf number hit at 10:00 a.m. eastern and a wave of selling. manufacturing activity contracted in november. they say the factory index came in at 49.5 in november. down from almost 52 and october. keep in mind, any number below 50 means contraction. above 50 equals expansion. investors are still worried about tax treatment and dead deals. exelon, the worst of the bunch our first guest has seen it all. the u.s. economy they fall into a recession next year even if congress strikes a budget deal by year end. joining us from stanford, california, martin feldstein. thank you for being with us. the republicans now responding. negotiations well underway to avoid a fiscal cliff. to your point, you recently sai
CSPAN
Nov 30, 2012 9:00am EST
and boost the economy. mr. benishek: our nation is facing significant challenges. a weak economy, record deficits and a federal government we cannot afford. many northern michigan citizens fear for the future of our republic. the american people deserve solutions to these problems and comprehensive tax reform is a key part of these solutions. president obama has made it clear that his preference is to raise taxes on families and businesses, but that plan won't fix our national debt. it won't improve the economy. instead, congress should focus on tax reform and real significant spending reductions. the american people have chosen divided government, and with that comes a responsibility for us to work together and to fix the pro-our nation faces. i -- the problem our nation faces. i ask my colleagues to help resolve this fiscal crisis and do what's best for the american people. thank you. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from pennsylvania seek recognition? >> i ask unanimous consent to address the house for one minute. the speak
CSPAN
Nov 28, 2012 8:00pm EST
economy and will her job creation in our country. republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal clef. one reason why we believe that we put revenue on the table as long as it is accompanied by serious spending cuts to avert a crisis. we believe this is the president's request for a balanced approach to this issue, and we are going to continue to work with the president to try to resolve this in a way that is fair for the american people. we all now that we have had the spending crisis coming at us like a freight train. it has to be dealt with. in order to try to come to an agreement, republicans are willing to put revenue on the table. it is time for the president and democrats to get serious about the spending problem our country has. i am optimistic. we can continue to work together to avert this crisis, sooner rather than later. >> good morning. last week, the president's chief political adviser indicated that medicare and medicaid are the main drivers of our deficit. i know we have seen this morning als
CSPAN
Nov 28, 2012 5:00pm EST
different elements of our economy deal with d.h.s. with support of others coming up with what would be best business practices and then if those best business practices were adopted by those within that element of the economy, they would get liability protection, liability immunity. now, some say, wait a second. that leads to a slippery slope that the government will come in and crash in on you. i don't know the perfect answer but i can trying for the lightest regulatory approach we could have. and those worried about the federal government coming in heavy-handed are truly concerned about that, they ought to think about this. if we have a successful cyberattack against a part of our critical infrastructure, my fear is that congress and whoever's present at the time will overreact because the public will require it. wouldn't it be better for us to anticipate it? wouldn't it be better for us to get ahead of the crises and then have a means by which we defend against it? we know we're not ever going to be totally 100% successful. so when it happens to diminish the impact on whatever critical i
CSPAN
Dec 3, 2012 8:00pm EST
and the demand for oil -- actually, and the demand for oil continues to decline based on fuel economy standards and other reasons. and yet, with this revolution we still continue to have a problem. and i think the report that we're releasing today, the national strategy for energy security and its subtitle really says it all -- harnessing american resources innovation. and the first point is, how do we leverage this abundance we have in the united states to our maximum benefit? at a time when washington is talking about our fiscal crisis i'd say that the relationship of our oil needs to this crisis itself are close. it might not solve our fiscal crisis but clearly it's a necessary ingredient. every recession in the history of the united states in moden times has been preceded by or happening concurrent with an oil price spike. if we don't have continued growth we can cut all we want and raise revenue all we want, but we'll never find a way to solve our fiscal troubles. and i think this report really looks at how do we leverage this great abundance, this great blessing in the united states, both
Current
Nov 28, 2012 5:00pm PST
the economy back where it should be. it's hard to watch the slow motion grind not discussing the issues. what about the discussion of the cap that has been etched into stone, and i'm not sure why. >> i think because there has been so much of a focus on letting the bush tax cuts expire for the top two percent and the discussions got narrowed to that. it has left us in the trillion dollar area as opposed to looking at real corporate tax reform and other ways that revenue can be generated. it looked like congressman defazio was paining a picture of how we can confront that early next year. >> eliot: he's one of our favorites. i don't think he speaks yet unfortunately for the mainstream, i wish he did. >> right. >> eliot: i don't think he does, but i think it's interesting when you hear what eric cantor says and even john boehner. they still will not discuss raising rates. they're willing to go there the charade of loophole closing and this and that, but none of which gets us where we need to be. >> right. it is amazeing to watch how they are unwilling to listen to what voters said on november 6t
FOX News
Nov 29, 2012 7:00pm PST
, but a blind duck congress. >> listen, this is not a game. jobs are on the line. the american economy is on the line. >> we've got to reduce our long-term deficit. that's also important to long-term economic growth. and we have said we need to do that in a balanced way. >> how gutless is it to blame the people who are still working in this country? >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is liberalism. >> asking for a political price to be paid in order congress to do its job, to ensure that the united states of america pays its bills, does not default for the first time in its history is deeply irresponsible. >> how gutless is it to blame them for the problems that exist in this country? >> their interested in wealth destruction. the country doesn't need a victory lap. it needs leadership. >> president obama had said that he has pen in hand, he's prepared to sign the middle class tax cuts. >> i think it's important congress act now, i mean right now. >> they're still not paying they're fair share? the people working h
CNBC
Dec 4, 2012 6:00am EST
think the ramifications for the economy are too significant. i think we're watching whatever you want to call it, all of the politics playing out, but i still think in the end we'll get a last minute deal. >> i agree. and i think even though the sides are far apart, you have things on the table now. so you can say you're here at 800, 1.6, you kind of -- it gets you somewhere close. somebody will try to say 1.3 versus 1.1, but if you see publicly what they're stating and hopefully privately other things are going on, but it will get done, but it will be very slow. >> john boehner with the proposal he put on the table, i did see commentary from some of the far right saying this is not an acceptable proposal. even his proposal is not acceptable. i did see comment it ter that came through. my question is does the president now have to alienate some of his far left base in order to reach a compromise. >> i think you'll see both of them have to actually bring the parties together. because you won't get everybody happy. some of the people who got voted on the ticket side, no, never. but it w
CSPAN
Nov 28, 2012 10:00am EST
to it happening. there's also a consensus right and left it would be bad for the economy. so i think that when we are just looking at the tax component, there are certain things that we kev knitly -- definitely need to do. patching the a.m.t. for the first year is big. if we don't get a deal on the rest of the tax cuts until early 2013, i don't think that would be the worst thing for the economy. i do believe that it is kind of a little more of a slope. i do think that there is -- i think that the worst part of the fiscal cliff are going to be avoided, and beyond that i think that both sides if they don't come together then we have a lot more revenue, and then we could do something like tax reform on top of that higher revenue, which would still bring in some revenue, yet at the same time satisfy a lot of republican demands for possibly lower rates. again, we can cross that bridge when we get to it. right now i think we won't -- if there is going to be a deal in this lame duck session, we are not going to know until the very end. host: thank you, gentlemen. appreciate your helping us out with thi
MSNBC
Nov 28, 2012 1:00pm PST
families should go up. it would be bad for the economy. it would be bad for those families. in fact, it would be bad for the world economy. and so i think it's very important that we get that resolved. and i am very open to a fair and balanced approach. >> the president met with middle class tax payers today, urging them to employ twitter hash tag my y2k, telling congress this is too important for them to screw it up. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. it's too important for washington to screw this up. >> and a new survey shows the president has the public on board in a new washington post poll, 60% support raising taxes on incomes over $250,000. a healthy majority. indeed, even some republicans appear to be under sway, by the force of reason. >> in my view, we all agree we're not going to raise taxes on people that make less than $250,000. we should just take them out of this discussion right now. continue to fight against any rate increases. try to continue to work h
FOX Business
Dec 2, 2012 8:00am EST
, what does it mean to the economy? especially if we don't know in it will be a deal in a month or a deal to do deal in another year? >> there's absolutely no good at this point in pushing along the current system and waiting to fix it later. yeah, no one wants higher taxes, but we're not in a dp reception rightnow. we absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little
MSNBC
Nov 29, 2012 3:00am PST
to work on what we all agree to, which is let's keep middle-class taxes low. that's what our economy needs. that's what the american people deserve. >> white house also turning to social media has a twitter hash tag to spread its message. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress. write them an e-mail, post it on their facebook walls. you can tweet it using the hash tag #my2k. not y2k, my2k. >> i think that's going to push us into the promised land. >> i was incredibly encouraged. i had been depressed and then i said this could actually get done with a hash tag. >> you're very pessimistic. we heard erskine bowles saying yesterday, he thinks it's less than a one in three chance, of course, co-author of the simpson-bowles plan. >> i was in washington earlier this week and met with a lot of these characters. the bottom line is there have been a lot of meetings, most of them between people w
CSPAN
Nov 29, 2012 7:00am EST
. and furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, again the wrong direction. host: and that was the new g.o.p. conference secretary voicing her thoughts on the fiscal cliff negotiations yesterday. and we want you to address the issue of what the g.o.p. is raising, which is address the spending problem. 202 is the area code for our numbers. that's our question this morning in this first segment of the "washington journal." you can also contact us via social media and email. you can make a comment on our facebook page, and finally send us a tweet. here is the hill newspaper from this morning. g.o.p. forget tax rates in talks on the deficit, let's look at the spending. the speaker's swift rejection of an idea floated by representative tom cole of oklahoma, a respected party strategist and former chair of the house g.o.p. campaign committee came as the republicans voiced increasing concerns over the debate of the so-called fiscal cliff. boehner said it's time for them to get serious about the spending problem that our country has. republicans complain t
CSPAN
Nov 30, 2012 8:00pm EST
fewer not good for our businesses. it's not good for our economy. it's not good for employment. that's one path. congress does nothing, we don't deal with this looming tax hike on middle class families, and gets hit with this big tax hike and businesses suddenly see fewer customers, less demand, the economy, which we've been fighting for four years to get out of this, you know, incredible economic crisis that we have, it starts stalling again. so that's one path. the good news is there's a second option. right now congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. everybody. so that means 98% of americans, 97% of small businesses wouldn't see their income taxes go up by a single dime, right? because 98% of americans make $250,000 a year or less. 97% of small businesses make $250,000 a year or less. so if you say income taxes don't go up, income above $250,000, the vast majority of americans, they don't see a tax hike. but here's the thing, even the top 2%, even folks who make more than $250,000, they still keep their tax cut on the firs
PBS
Nov 29, 2012 4:30pm PST
put it in perspective say it going to be a tough economy for the next decade is there anything this there fiscal cliff negotiations that there would be a package for jobs or helping the economy over the next couple of years in the near term? >> well, one would hope so my own belief is there should be significant investment in roads, bridges, airports, schools, other infrastructure for this country because we not only have a fiscal deficit we also have an infrastructure deficit. that would give two advantages. one, it would employ people in this country at a time when unemployment is too high. and numb two it uld improve the competive position of the country so, that's a to-for. >> susie: senator conrad, thank you for coming to the program. we appreciate it. >> thank you, always good to be with you. >> reporter: i'm erika miller in new york. still ahead, we'll look at why silver has been one of the best performing asset classes this year. >> tom: the u.s. economy was hotter than first thought this summer. in the newest data on the gross domestic product, the economy grew in the
CSPAN
Dec 4, 2012 8:00pm EST
-- never rise above it, what does that say about our country? to me, it says our economy is failing to provide the basic security, much less rising wages. our schools are failing to provide a path out of poverty our families and communities are breaking down -- out of poverty. our families and communities are breaking down. our homes and neighborhoods. at a time of great consequence, the american people have chosen a divided government. it is up to us to make this divided government work. we have to set aside partisan concerns. how to work together to prepare this economy to get people back on their feet? how do we get this sense of real security and upper mobility for all americans, especially those in need? they are the same. the old ways will not do. we need new thinking and renewed efforts from all americans. it is true that president obama won reelection. i congratulate him on his victory. on january 20, he will face a a fiscal economy and and i mess. you might say he will inherit these problems. [laughter] [applause] he his second term, i hope t will offer fresh ideas. failure
CNBC
Nov 28, 2012 3:00pm EST
to the financial system. >> steve, if only the market could focus on just the economy, which actually seems to be chugging along okay. if you look at durables, consumer confidence, the ongoing recovery and housing, it's the overhang of the cliff that's spooking everybody. >> yeah, we've had somewhat better numbers. the new home sales today, not great. maybe sandy affected even though the government said it wasn't. the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang b
FOX Business
Nov 30, 2012 9:20am EST
. stuart: you agree with me, if this plan, anything like it from the president, were imposed on the economy at this time it would lead to recession. >> i think that the president is fully aware as are democrats and anybody realistic. stuart: you make that judgment. >> i am not a fan, by the way, never have been, i thought the fiscal cliff thing was ridiculous in the beginning. no, no, but prefacing my answer to you. stuart: higher taxes of this magnitude on an economy that's already weak with 8% unemployment, you do that and now it's not-- >> no, no, no, i do not believe that raising the marginal tax rates to the clinton rates for the wealthiest among us-- >> i knew you were going to say that, you're comparing a totally different economy. what we have now is 8% unemployment. very sluggish growth and a trillion dollar deficit every year. you propose to raise taxes in that environment and you're not going to get growth. >> don't you understand you need to off set-- if you're serious about debt reduction, i think you are, don't you understand you need revenue and spending cuts. stuart: and how
FOX Business
Nov 30, 2012 11:00am EST
to be remembered that push the country back into recession. >> it is not leaving a strong economy, it is transforming the economy into a your -- european socialist. connell: thank you, monica. >> thank you. connell: we do have real numbers on the economy to talk about. today, we learned consumer spending is down for the month of october. not to worry says stuart hoffman. he joins us from pittsburgh. >> it is a deal when consumer spending falls. we should put it in context. in july, august and september contributors had a pretty good rebound. as you said, some of the hurricane sandy koufax did affect this number we will find out on monday whether the sales came back when they announced november numbers. if you average this out, we saw, even in our company, a decline in sales of our merchant services. we have seen more of a return to normal and i was encouraged, but i guess it is now black thursday to cyber monday sales look pretty good. connell: everyone says, all right, well, what if we do not get there in terms of this washington self that monica was just talking about and we do
FOX News
Dec 5, 2012 8:00am PST
over the last four years, there is progress in some key sectors of our economy. we've seen housing finally begin to bounce back for the first time, and that obviously has an enormous ripple affect throughout the economy. consumer confidence is as high as it's been. many of you over the last two, three years have experienced record profits or near record profits and have a lot of money where you're prepared to invest in plants, and equipment, and hire folks. obviously globally the economy is still soft. europe is going to be in the doldrums for quite some time. asia is not charging forward and some of the emerging markets are not charging forward as quickly as they were maybe a few years ago. but i think what all of you recognize and many of you have told me is that everybody is looking to america, because they understand that if we're able to put forward a long-term agenda for growth and prosperity that is broad based here in the united states, that confidence will not just increase here in the united states, it will increase globe balance leave. globally and i think we can get the
CSPAN
Dec 3, 2012 5:00pm EST
market. it is just going to affect the economy the same as gas prices or food prices going up on the poor and middle class. life will go on. just like life has gone on for the rest of the united states of america. but right now, i think the state of politics is very sad because they're seen -- there seems to be more of a game to be played and positions, one party having the upper hand over the other. not much is going to get done. and you have too many extremes on each side to make things a lot more difficult to run. and it makes it difficult on the president as well. i'm optimistic that the president got reelected, but pessimistic on anything really changing. have leased, anytime soon. -- at least, any time soon. host: and talking about actual change, if there will be a difference on january 1st or otherwise, in terms of taxes, politics, the fiscal cliff, john mckinnon, are any of these expiring? as part of our fiscal cliff series, we're looking at the bush tax cuts that are set to expire unless congress acts, and we are looking at spending cuts. our deductions on the chopping block unle
CNBC
Nov 30, 2012 7:00pm EST
of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've seen this before from him. my proposal is, republicans have to come with a counter offer. right now. there's no point in blasting obama. just a counter offer. i want to read from today's newspaper. this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, nan. he wants medicare eli
MSNBC
Dec 2, 2012 5:00am PST
of the economy is for everyone to pay more in taxes and guarantee a form of public goods. the most successful democracy is where it is structured around universe albens where everyone pays in and makes use of what the state provides. now, no leaders are making that argument. in the short run, they are right not to. getting rid of the entirety of the bush tax cuts for all brackets hurts the recovery. once we are in the recovery, we have to do at least that and more. the question is, does the death of the consensus mean american voters are ready to hear that? how will this president or the next make the case? joining me today, governor of connecticut, a senior research fellow at george mason university. senior economic director at naacp and a fellow at the roosevelt institute. it's great to have you all here. i like when i do these spiels, listen to withering criticism from the panel. what do you think of the thesis, at least about the politics of the undoing of the consensus? >> i think this focus on grover is just it's wrong. i mean grover is just one guy advocating for a position that i thin
MSNBC
Dec 5, 2012 2:00pm PST
, than in january with the world economy in turmoil and second recession coming. number two, john boehner, the speaker is claiming he's met obama's demand for higher taxes for the rich. that's good. he agreed in principle the rich must pay more. number three, there's talk for the republican leaders that they could vote to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the sameç people pay moref their money to the feder
FOX Business
Dec 4, 2012 7:00pm EST
about the importance of preventing a tax increase on middle class families, strengthening our economy, and adopting a balanced approach to deficit reduction. and so it goes. my first guest says it does not matter who you tax or what form revenue takes him, taking more money at the private sector will hurt economic growth. joining us now, republican senator from the great state of kentucky from the senator rand paul. good to have you with us, senator. >> good evening. the president says we don't have enough time for tax reform or in thailand reeorm. you know my responses? we have been talking about this for two years. why haven't we done anything? i met with the president a year-and-a-half ago and i looke@ across the table in. i said in a we need to do something about social security. we need to do something to save medicare. they have done zero. how come there is no committee appear. d'agata washington. who is in charge of social security reform? nobody. everybody waits for a deadline and throws up their hands and says we don't have enough time. it is broken up here, but because they'
FOX News
Dec 1, 2012 8:00pm PST
that's what he's trying to do. it's hard to see where the upside is for the president if the economy slips into recession, talking about 2013 having no growth would be horrible. >> yeah, so, it's a little hard to see what the game is. as kim was mentioning, the president wants these tax increases. it seems to me we're going to go through this sort of scorpion dance the rest of the year. what did the president campaign on? what was the one thing, i think most people would say he campaigned on, that's raising tax rates on the wealthiest, the two top rates, that's the thing i think is on the table and-- >>, but the republicans put that on the table. >> and the republicans put that on the table the a through deductions and-- >> yeah. but they're willing to put that on the table. the question is, what does the president then give republicans in return, if anything? >> well, i think that's what the republicans position should be. say we have committed what you campaigned on. if you're not willing to talk about reducing spending, they are we're not going to be able to do a deal with you. an
FOX News
Dec 2, 2012 8:00am PST
like republicans want? >> here is what is at stake. economy is on the brink potentially of going to recession. that will have the worst impact on the deficit that anything will. we got to make sure that the economy continuebes to grow. that is the problem here. i know democrats have this blood lust to raise taxes on supposedly rich people, which are really small business people. but it is not going to do anything to grow the economy. here is what president obama needs. he has to make sure the economy grows. he will be a two-term jimmy carter if the economy goes back in recession and we can't pull ourselves out of this thing. >> eric: i heard you laugh, martin on the "two-term jimmy carter" line. >> he doesn't want to be a two-term george w. bush that took us in a steep recession. >> hey, you are the one with the bush tax cut. >> this can be worked out. everybody knows that. you can raise rates a point or two, that is not going to be end of the world. republicans understand that. let's get through with the fear we have had a couple of weeks of theater and let's get down to serious
MSNBC
Nov 28, 2012 8:00pm PST
this wrong, the economy is going to go south. we don't have a lot of time here. we have a few weeks to get this thing done. we could get it done tomorrow. optimistically, i don't think we are going to get it done tomorrow. >> the white house is using all social media resources to get the message out and put pressure on the republicans. >> today, i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress, write them an e-mail, post it on their facebook walls. you can tweet it using the hash tag my 2 k, not y2 k. >> the president was laughing about you the strategy, seriously effective. the my2k was one of the top trends on twitter all day long. republicans aren't too happy. they are getting outflanked. >> if the president wants to reach an agreement, he needs to be talking with the members of his own party right here in washington trying to broker an agreement, not out there firing up crowds and giving speeches. >>
MSNBC
Dec 5, 2012 1:00pm PST
that will affect your spending, lifestyles or the economy in any significant way. >> yes, indeed. the president is standing confident standing firm on middle class tax cuts and against any effort by republicans to throw the debt ceiling into the equation. >> if congress in any way suggests that they're going to tieç negotiations to debt ceilg votes and take us to the brink of default once again, as part of a budget negotiation, i will not play that game. >> as the president perfects his steely gaze, keep in mistake he's keeping side eye on splintering cracks appearing amongst congressional republicans' supposedly solid front. >> personally u i know we are to raise revenue. i don't care which way we do it. i would rather see the rates go up than do it the other way. >> let's take the american people out of the line of fire. particularly that 98%. >> maybe there's something in the oklahoma water supply. if republican lawmakers are falling pray to the mendacious middle class those at fox news are standing up for the needs of those persecuted top earners. >> this is a different america. how did w
CSPAN
Nov 28, 2012 7:00am EST
, we had huge surpluses because of the strong economy over the 1990's and deficit-reduction plans put in place over the 1990's. the government had the choice to spend that on programs, or returned it to tax payers, and the bush administration decided to return the money to taxpayers. over the following year's tax rates were lower. it was renewed in 2010 in a tax deal between president obama and congressional republicans at a time when the economy was weak and the feeling was they could not take an increase in taxes. host: what was the desired effect and did it happen? he called the desired effect was to give people more of their income back, and that happened, as wealthy people got more income back, more moderate income earners got some back. one of the questions is how it effects economic growth, and it is an unresolved area of economic research. did it did help the economy -- did it help the economy? it is hard to say. we had a good economy in the 2000's before the crisis. now we have a huge crisis. on balance, it probably did not help that much. host: can you calculate if jobs were
FOX News
Nov 29, 2012 6:00am PST
in the economy that would indicate that the job market is strong enough to actually bring down that overall unemployment rate. earlier this fall weekly jobless claims had dipped below that line, right before the election, and now they seem to be creeping above it, 393,000 is the number that we're hat today. it's interesting to note that we're going to get an overall unemployment number coming out. some people think based on this number that that could go back above 8% as well. bill: we were so keane on these numbers and waiting for them to tell us what they would tell us about the economy, and how voters were thinking and feeling and how it would play out in the election. a lot of people are now saying hey man, wrist the attention on the numbers. job number one is how to maybe the economy stronger. guess who is coming to the white house for lunch? >> mr. president you're entitled as a president to your own aeu own airplane and own house but not to your own facts. bill: those are topics that will likely not come up today. martha: peanut butter and honey is mitt romney's sandwich. we'll see i
CNBC
Dec 3, 2012 9:00am EST
savings as part of that and invest in things that matter to the american economy. we think we can do that. we have a good chance to do it now. it's important that we do it. i think we're going to get there. >> given tough talk over the weekend, why aren't we waking up to down numbers, red arrows? >> europe is terrific. bond rates are phenomenal. a great run. china numbers are better. i think that there's a lot of people who feel like doug cast does who writes with me with a piece in "the new york times" saying that -- >> most stuff is nontaxable accounts any way. most stocks that people won't be as motivated to sell as people think. of course that doesn't necessarily deal with the increase in payroll taxes and the whole recession side of it. it does deal with the stock market side in terms of selling. >> why not say, listen, fiscal cliff, i have to cut numbers. i have to cut guidance. i think many ceos will cut guidance because of the possibility that the amt is going to -- this alternative minimum tax, people don't know they have to write a check for $3,500 at the end of the year. once y
CNBC
Nov 29, 2012 3:00pm EST
on the very, very decent and accelerating fundamentals of the u.s. economy. >> maybe, and that's just today, right, ron? >> been since last week. >> we were talking about the market really being so sensitive to any rhetoric out of washington. >> i'm not saying it's not hostage to headlines. we'll get intraday volatility. from the monday before thank giving until now, we have effectively wiped out the losses we saw post-election. >> rick, how do you see it? market complacency, too much angst, are we overthinking this? how do you read the market right now? >> i think that the low volume movements of the equity markets aren't really telling you any information. there's no way even in aggregate a market could decide what's going on in harry reid or john boehner's brain in anything is going on in begin with. if you look at treasuries overlaid on top of equities, until mr. boehner's comments, the treasuries have taken the big picture on all of this. they're not going anywhere fast. fiscal cliff is important, but there's a lot of issues for the next several years that are going to be important to
CSPAN
Dec 4, 2012 10:00am EST
group and give to the other. some say go to the clinton tax rate. we had a booming economy and creating more jobs. if increasing taxes increases economic activity, why don't we go to a 95% tax rate and then we'll really have a booming economy? the reason that no one proposes that is because no one really believes that. that's why the accelerated tax rate that's being recommended by the white house is also being proposed by another stimulus plan, a spending plan. here's the example that i can talk about with this. when people talk about just raise taxes in the upper 2%, well, here's an example of what's being proposed by the president. capital gains will go to 28.3%. dividends will go from 15% to 43.4%. now, i have a lot of people that will say to me, just raise it on the upper bracket. but when i tell them, can i tell you what that means? their taxes go from 15% to 43.4%, i have yet someone stop me and say, that's fair. it sounds so much easier to say, raise it on someone else, not on us. we have to solve the problem. just raising taxes doesn't solve the problem. we're spending $1 trill
FOX Business
Nov 29, 2012 1:00pm EST
starting to hurt the economy, do you agree? >> you see that with the investment spending, and it can only get worse as we get closer to the end of the year as everybody holds their breath in the economy collectively, we have big problems. lori: one thing was the incredible amount of government spending especially on defense. one of the biggest issues is concerning. >> the issue really is what happened in the current quarter and going into the beginning of next year. other types of discretionary spending is as well. the total is $600 billion, the economy simply cannot withstand that sort of shock. we saw a week underlining detail report. know the economy will be soft in the current quarter due in part to hurricane sandy but also the slower trends in the various components. lori: 1.7 is the consensus estimate of expansion, what are you thinking? >> we're forecasting 1.3%. in the ballpark of 1.7 before hurricane made landfall. more of a ceiling than a floor at this point. lori: anything good to look forward to? >> things don't look all that bad next year. one of the key reasons when next you
FOX Business
Dec 4, 2012 11:00am EST
back then, barack obama believed that lowering rates was good for the economy. dagen and connell, it is yours. connell: the war on wealth is where we begin today. dagen: get the government out of the markets. connell: the devil wears -- becoming our next ambassador to britain. dagen: holiday travelers paying up. the average ticket price topping $450. connell: everyone needs a few days off. it is the top of the hour. we will go to nicole petallides. good morning. nicole: good morning. let's take a look at what is going on here. let's take a look at jardin restaurants. it turns out they are not meeting the analyst expectations. let's take a look at the stock. it is near its lows of he day. their earnings will miss the analyst estimates. same-store sales dropping 3.2%. as a result, sales have diminished. how about the major market averages? the dow is higher, but the s&p and the nasdaq are lower. dagen: republicans finally pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to ima
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